5327 Bodega Dr · East Milton, FL 32583

$209,900

3 bd · 2.0 ba · 1,216 sqft · Manufactured public records · 137 Days on market

Built 2022 1.01 ac lot Est $187k · 12% over

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +17.4/30.0
• DSCR +5.4/10.0
• Schools +5.3/10.0
• Livability +3.9/5.0
• 1% rule +3.7/10.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• ARV discount +2.1/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

1 acre property with lots of possibilities! Simple living in East Milton. This home is for those who enjoy open spaces, nature, no hoa, quick interstate access, and still only 30 minutes to the beach! Home has been upgraded with front and back decks and multiple personal touches/upgrades inside. The back acreage is sparsely wooded and a beautiful view from the back deck. Let your dogs, horses, or chickens run in this AG-RR zoned acreage.

Key facts

• Open spaces
• Ag-rr zoned acreage
• 1 acre property

Tags

• 1 ACRE PROPERTY
• OPEN SPACES
• NO HOA
• QUICK INTERSTATE ACCESS
• BACK ACREAGE
• AG-RR ZONED ACREAGE

Property features AI

Finance

• Other: Property sits on about 1.01 acres (lot dimensions approx. 106 x 414); Building area about 1,216 square feet; Directions: Hwy 87 to East on Nichols Lake Rd., Left on Farm Life Rd., Right on American Farms Rd., Left on Bodega Dr.
• HOA & community: No association

Exterior

• Parking: Open parking; Driveway
• Utilities: Copper wiring; Septic tank
• Home design: Mobile/Manufactured home; One story; Off-grade foundation; Gable roof; Resale property; Paved, county-maintained road access
• Construction: Frame construction
• Exterior features: Rain gutters; Covered deck; Back yard fencing; Yard building on the property; Allows horses

Interior

• Kitchen: Updated kitchen (everything new 2022); Kitchen island; Laminate counters; Includes dishwasher and refrigerator
• Bedrooms: Primary bedroom on the first floor (approx. 11 x 14); Second bedroom on the first floor (approx. 8.9 x 8.4); Third bedroom on the first floor (approx. 14.33 x 8.75)
• Flooring: Laminate flooring; Simulated wood flooring
• Bathrooms: Two full bathrooms; Bathrooms updated within the last 1–5 years
• Heating & cooling: Central heating; Central air conditioning; Ceiling fans
• Interior features: Updated bathrooms (new construction 2022); Eat-in kitchen; Kitchen island; Laminate counters
• Laundry & utility: Laundry located inside; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $210k.

Deal economics

• At list price, monthly cash flow is $159 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $182k (13.4% below list).
• Recommended offer: $182k (13.4% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 4.6% in East Milton — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 77/100 on livability (#199 in FL, #3,139 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, amenities C-, commute F.
• Santa Rosa (suburban): math 63% / reading 60% proficiency, ranked #8 of 73 in FL (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Martin Luther King Middle School (math 38% / reading 41%, grade F, #373 of 571 statewide, top 66%, 660 students, 69% FRL); Milton High School (math 44% / reading 42%, grade F, #255 of 667 statewide, top 39%, 2,085 students, 54% FRL) — zoned schools average 62% FRL vs 36% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 41% at this address vs 62% district-wide (-20 pts) — the specific schools serving this property underperform the Santa Rosa average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.5%/yr); 822 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,983 units permitted in Santa Rosa County in 2024 (128 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Santa Rosa County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 137 days — a 12% lower offer ($185k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $181,796 (13.4% below list)

Questions for the listing agent

1. It's been on market 137 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.87% ✗
• Cap rate: 7.20%
• Cash-on-cash: 3.25%
• DSCR: 1.14
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $187,264
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9900 Jeno Rd	0.38mi	3/2.0	1,364 (+12%)	3mo	$210,000	$154	59
10077 Jeno Rd	0.74mi	3/2.0	1,248 (+3%)	12mo	$180,000	$144	52

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.53% rent growth · sell at horizon

5-year hold

• IRR: -9.7%
• Equity multiple: 0.64×
• Total profit: $-21,110
• Equity at exit: $31,297

10-year hold

• IRR: 1.4%
• Equity multiple: 1.11×
• Total profit: $6,383
• Equity at exit: $18,148

Cash invested: $58,772 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 32583

• Home prices YoY: -11.3%
• Rents YoY: 4.5%
• Active inventory: 822
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,818 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$89 /mo · $1,065/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$382
• Net cashflow: $159

Break-even live

Break-even rent $1,616

Max offer price $209,900

Occupancy floor 86%

Sensitivity live

Price	-10% $278	-5% $219	+0% $159	+5% $100	+10% $40
Rent	-10% $16	-5% $87	+0% $159	+5% $231	+10% $303
Rate	-1.0pp $265	-0.5pp $213	base $159	+0.5pp $105	+1.0pp $50

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $52,475
• Closing costs: $6,297
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9861 Shangri La West Rd Milton, FL	3.0	2.0	1441	$2,125	$1.47	15d	1	0.75mi
4825 Douglas Dr Milton, FL	3.0	1.0	900	$1,050	$1.17	15d	1	1.19mi
4819 Douglas Dr Milton, FL	3.0	2.0	924	$1,100	$1.19	15d	1	1.22mi

Listing history 19 events

1. 2026-06-22
   days on market $209,900 Active 137 DOM
2. 2026-06-18
   days on market $209,900 Active 134 DOM
3. 2026-06-17
   days on market $209,900 Active 133 DOM
4. 2026-06-16
   days on market $209,900 Active 132 DOM
5. 2026-06-15
   price $209,900 Active 131 DOM
6. 2026-06-15
   days on market $214,900 Active 131 DOM
7. 2026-06-14
   days on market $214,900 Active 129 DOM
8. 2026-06-10
   days on market $214,900 Active 126 DOM
9. 2026-06-09
   days on market $214,900 Active 125 DOM
10. 2026-06-08
    days on market $214,900 Active 124 DOM
11. 2026-06-07
    days on market $214,900 Active 123 DOM
12. 2026-06-05
    days on market $214,900 Active 120 DOM
13. 2026-06-03
    days on market $214,900 Active 119 DOM
14. 2026-06-02
    days on market $214,900 Active 118 DOM
15. 2026-06-01
    days on market $214,900 Active 117 DOM
16. 2026-05-31
    days on market $214,900 Active 116 DOM
17. 2026-05-31
    days on market $214,900 Active 115 DOM
18. 2026-02-04
    listed $220,000 Active
19. 2026-02-03
    listed $220,000 Active 441-char remark

    Show marketing remark (441 chars)

    1 acre property with lots of possibilities! Simple living in East Milton. This home is for those who enjoy open spaces, nature, no hoa, quick interstate access, and still only 30 minutes to the beach! Home has been upgraded with front and back decks and multiple personal touches/upgrades inside. The back acreage is sparsely wooded and a beautiful view from the back deck. Let your dogs, horses, or chickens run in this AG-RR zoned acreage.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $1,065 · $89/mo
• Projected year-2 tax: $1,742 · $145/mo
• Expected delta: +$677/yr (+$56/mo · 63.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 9/10 Extreme 6 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,816
• − Mortgage interest: −$11,758
• − Property taxes: −$1,065
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,745
• − Management: −$1,745
• − Depreciation: −$6,106
• Taxable loss: −$1,653
• Est. tax savings @ 24.0%: +$397
• After-tax cash flow: $2,308/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Santa Rosa
• NCES district ID: 1201650
• Math proficiency: 63% ▼ -6.00%
• Reading proficiency: 60% ▼ -5.00%
• Median HH income: $58,161
• Composite: 53.12/100
• National rank: #1511
• State rank: #8 of 73 in FL

Livability — East Milton

• Score: 77/100
• State rank: #199
• US rank: #3139

Category grades

Amenities C- Commute F Cost of living A+ Crime C- Employment C+ Housing A+ Health & safety A+ User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Milton, FL
• County: Santa Rosa County · 194,764 people
• City population: 31,415
• Metro: Pensacola-Ferry Pass-Brent, FL
• Population (ZIP): 31,828
• Household income: $85,440
• Rent vs Own: 12.9% rent · 87.1% own
• Severe rent burden: 122.0

Population outlook (Santa Rosa County) Hauer SSP2

• Today (2025): 195,978 people
• By 2030: 209,782 · +7.0%
• By 2040: 235,293 · +20.1%
• By 2050: 256,408 · +30.8%
• By 2075: 298,074 · +52.1%
• By 2100: 303,216 · +54.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 11% Two or more races 10% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2% Cuban 1%
• Common ancestry: Italian 3% Slovak 2% Serbian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 3%

Political lean MEDSL · Santa Rosa

• 2024 margin: Solid R (+51.0) · D 24.1% · R 75.0%
• 2008→2024 swing: -3.0pp toward R · 2008: -47.9pp · 2024: -51.0pp
• All cycles: 2024: R+51.0 2020: R+46.5 2016: R+53.5 2012: R+52.6 2008: R+47.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -38.35%
• Current HPI: 301.8819
• Rent YoY: ▲ 4.53%
• Metro: Pensacola-Ferry Pass-Brent, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+0.0% since first listed

2 events — show timeline

• 2026-02-04 Listed $220,000 PARMLS
• 2026-02-03 Listed $220,000 NAMLS

Property tax history

+62.3%/yr

Latest (2025): $1,065 · +6.6% YoY. Source: county tax records.